One year ago we sold our home to our ‘corporate financial partner’ to raise $$ for our business. There are currently no written rental agreements. The home is used both for the business and our residence. In December we made a verbal agreement that he would add a few months rent to our existing loan with him so that we could apply the $$ towards the business.
We paid our rent last month, and are planning to do so this month as the company is doing very well now, however, yesterday he gave us verbal notification that he will be selling the house in order to recoup the money that he put into the corporation and that he ‘done’ with the corp.
He has threatened us with this before when we had disputes (and when we were paying our rent on time), but we were able to resolve it by reminding him of the impact that it would have on both the business and us personally. He is not willing to look at that now and is actively pursuing the sale. He is both a realtor and a lawyer. Do we have any rights or grounds to stand on here?
Re: Landlord/Tenant/Corporate agreements.
The extent of your rights is not discernible from your inquiry. You need to consult with a lawyer as soon as possible.
Roger D. Johnson, P.C.
3705 Kipling St., Suite 208
Wheat Ridge, CO 80033-5792